When confronted with a financial crisis, most people immediately turn to payday loans for help. But payday loans often come with very high interest rates that can put you in bad debt just as quickly as when you got the money. In this article, let’s talk about some of the other alternatives you have when you need to borrow cash in a hurry.

Turn to a credit union. Credit unions are non-profit organizations that are created to assist consumers with financial matters. Look for credit union in your locality and ask if they offer personal loans. Personal loans offered by credit unions have lower rates than the ones offered by commercial banks and lenders so they’re definitely worth checking on.

Turn to your employer. If you are working for a small company, talk to your employer and ask if you can get your salary in advance for this month. Explain your situation and why you need the money right now. If you have been a dependable employee to your company, your employer will most likely be willing to grant your request. In any case, asking your employer for help is still worth the try. If you work in a larger company, you can talk to your HR department. Usually, big companies do offer financial assistance programs for their employers.

Borrow from a friend or family member. Borrowing money from a friend or family member is another option and this gives you the chance to get a loan with no interest at all. However, when dealing about money, it’s best to put all details in writing and make sure that the agreement is signed by both parties to avoid any complications.

Social Service organizations. Call a Social Service organization in your area for assistance. If a particular organization does not directly offer financial assistance, they can provide you with recommendations or advice on which organization to go to.

Talk to your creditor. If the reason you need the money in a hurry is to pay your creditor, another option is talk to your creditor instead and request for an extension of your due date. Most creditors will be willing to extend up to 30 days if you give them advanced notice. Also, ask your creditor not to report it as late payment if you can make it up before the extended deadline.

Payday Loans. If you really must turn to payday loans for fast financial assistance, the important thing to remember is find a lender that offers reasonable rates and costs. Keep in mind that payday loans must be paid back within the next 25 days or by your next pay check to avoid incurring the interest rates on your loan.

Yes, you can get the cash you need immediately and you can even submit your application straight from your computer but remember to take the time in choosing your payday loan lender. Always read the terms and conditions of your loan or your payday loan agreement in full before submitting your application.